1. Vietnam Stocks

  2. •

    Consumer non-durables

  3. •

    Apparel/Footwear
Song Hong Garment JSC

Song Hong Garment JSC

HHOSE:MSH
33,500.00
VND
-100.00
(-0.30%)
3.81TMarket Cap
Dec 02Next Earn
Song Hong Garment JSC
HOSE:MSH
(Ho Chi Minh Stock Exchange)

Recent

price

33,500.00

P/E

ratio

- -

div

yld

15.45%

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
48,579.86
39,718.17
785,448,452.3
963,058,849.86
1,158,447,173.71
40,364.92
46,928.15
49,218.08
- -
Revenue per Share
4,547.43
4,050.53
47,745,237.86
89,737,406.37
78,662,087.6
2,173.37
3,666.18
5,456.04
- -
Basic EPS, GAAP
3,697.98
4,903.56
14,596,696.4
-11,978,792.03
132,345,734.87
-1,731.28
-3,339.53
3,621.86
- -
Free Cash Flow per Basic Share
2,099.54
2,161.43
1,865,921.02
76,043,089.61
39,331,342.16
1,666.21
2,333.22
4,215.95
5,176.14
Dividend per Share
8,713.12
10,329.31
281,918,325.13
288,443,675.56
337,675,950.91
14,631.85
15,961.92
17,046.52
17,965.02
Book Value per Share
8,594.78
10,166.74
279,244,516.85
286,558,908.92
335,479,093
14,536.38
15,886.66
16,982.76
17,705.83
Tangible Book Value per Share
81
111
113
113
113
113
113
113
113
Basic Weighted Avg Shares
3,950,827
4,411,253
88,379,563,118
108,364,489,304
130,349,808,200
4,541,908
5,280,403
5,538,068
- -
Sales/Revenue/Turnover
11.07
11.62
6.25
10.26
6.49
4.11
8.34
12.77
- -
Operating Margin (%)
116,944
117,873
3,054,293,407
3,038,543,406
3,155,643,246
134,734
126,960
124,738
- -
Depreciation Expense
369,826
449,868
5,372,349,071
10,097,356,162
8,851,148,559
244,550
412,523
613,920
- -
Net Income, GAAP
17.8
17.69
18.18
18.48
23.09
20.01
18.63
17.9
- -
Effective Tax Rate (%)
9.36
10.2
6.08
9.32
6.79
5.38
7.81
11.09
- -
Profit Margin (%)
383,889
671,302
18,904,370,216
21,924,459,631
25,323,184,421
1,217,173
1,389,483
1,458,384
1,554,164
Working Capital
101,494
60,848
- -
4,072,287,733
7,222,606,797
307,913
607,523
647,913
580,913
LT Debt
933,723
1,235,743
33,424,428,321
34,132,526,716
40,586,792,170
1,809,755
2,055,533
2,213,226
2,379,165
Total Equity
- -
25.74
23.72
20.99
14.83
- -
14.55
18.85
- -
Return on Invested Capital (%)
- -
27.24
25.19
21.48
19.25
- -
13.92
17.32
- -
Return on Capital (%)
- -
42.93
33.87
31.47
25.13
- -
23.97
33.06
- -
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
647,806
625,741
1,162,973
LT Borrowings
647,913
631,913
580,913
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
113
113
113
Market Capitalization
3,651,307
4,230,790
3,814,463

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,275,000
2,911,108
3,657,217
Cash, Cash Equivalents & STI
1,619,777
1,259,624
1,297,366
Accounts Receivable, Net
943,209
565,900
1,122,695
Inventories
546,122
889,089
1,002,261
Total Current Liabilities
1,816,616
1,394,479
2,103,054
Payables & Accruals
- -
- -
- -
ST Debt
647,806
625,741
1,162,973
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
7.67%
Free Cash Flow
- -
-320.49%
-208.45%
Net Income, GAAP
- -
18.62%
48.82%
Sales/Revenue/Turnover
- -
-7.19%
4.88%
Total Cash Common Dividend
- -
789.56%
80.69%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
770,424
1,333,138
1,748,465
1,428,376
5,280,403
2025
1,036,176
1,466,808
- -
1,388,373
5,538,068
2026
1,041,226
1,656,962
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
464.79
814.57
1,156.45
1,536.98
3,666.18
2025
1,125.49
1,599.31
- -
1,804.05
5,456.04
2026
725.73
1,807.81
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.66
0.13
- -
2,332.43
2,333.22
2025
0.12
- -
- -
4,215.87
4,215.95
2026
0.46
959.81
- -
- -
- -
Similar Companies
Nike, Inc. (NYSE:NKE)
lululemon athletica inc. (NASDAQ:LULU)
On Holding AG (NYSE:ONON)
LVMH Moet Hennessy Louis Vuitton SE (EURONEXT:MC)
Hermes International SCA (EURONEXT:RMS)
Deckers Outdoor Corporation (NYSE:DECK)
Business
Song Hong Garment Joint Stock Company is a Vietnam-based apparel and home textile manufacturing company primarily engaged in the production, processing, and export of ready-made garments and bedding products. The company operates through three principal business segments: Garment Manufacturing, Bedding Products, and Cotton and Quilting Materials. Its Garment Manufacturing segment provides full-package Free On Board (FOB) and Cut-Make-Trim (CMT) manufacturing services for a diverse array of woven and knit apparel, including winter jackets, down coats, padded outerwear, casual shirts, t-shirts, polo shirts, trousers, shorts, denim wear, sportswear, activewear, and children's clothing for international fashion brands and global retailers. Its Bedding Products segment manufactures and markets domestic home textiles under the proprietary Song Hong brand, offering cotton fiber, memory foam, and pocket spring mattresses; duvet covers and thermal quilts; microfiber and feather pillows; bedsheets and pillowcases; protective mattress pads; and customized bedding sets for retail consumers, hospitality clients, and healthcare institutions. Its Cotton and Quilting Materials segment produces thermo-bonded padding, polyester wadding, needle-punched cotton, and ultrasonic quilted linings for internal garment assembly and third-party industrial supply. The company distributes its products domestically across Vietnam through an extensive network of authorized distributors, retail agents, and institutional supply channels, while exporting the vast majority of its garment output to international markets including the United States, the European Union, Japan, South Korea, and Canada. Founded in 1988 and headquartered in Nam Dinh City, Nam Dinh Province, Vietnam, the company operates multiple large-scale manufacturing complexes across the region. In recent developments, the company has expanded its manufacturing footprint through the commercial ramp-up of the Song Hong 10 (Nghia Hung) manufacturing facility, significantly increasing production capacity for FOB orders and technical outerwear; accelerated its strategic transition from basic CMT processing toward higher-margin FOB and design-oriented manufacturing solutions; implemented advanced automated cutting systems and specialized sewing equipment to optimize production efficiency; deployed rooftop solar energy installations across its key manufacturing sites to meet international environmental, social, and governance (ESG) compliance standards; and strengthened strategic supply chain partnerships with global synthetic and sustainable textile providers.